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CSPAN
Dec 30, 2012 10:30am EST
cliff from this morning's "washington journal." host: our topic is the fiscal cliff. of we have done for last several sundays, we welcome the policy director for the concord coalition and a columnist for roll call newspaper. thank you for coming back. stan, as we stand on the edge of the fiscal cliff, is there any chance we do not go over? guest: we are relying on a senate that has been dysfunctional and avoided a filibuster when it will be really easy for one or more senators who do not like tax increases to just filibuster round and we are relying on a house that could not take the lead. it's important to state that while the official deadline is the 31st, the true this congress can continue to worked until the new congress comes in january 3rd. we have more like three days. host: joshua gordon, are we going over the cliff? what will it mean if we do? guest: in some sense, we will even if they reach a deal. this is something when you look at the contours' of the deal that have been talking about, there will still be a lot left for future decision making. even if they are able to extend
CSPAN
Dec 30, 2012 2:00pm EST
parties said they were concerned about leading into the fiscal cliff. the payroll tax cut is going to expire. no one is talking about extending that. that is the one that gives the biggest bang for the buck. host: if a deal does get done, how much of the cliff aristo going to be staring at? guest: you are staring at one cliff, the payroll tax cut going away. that is 3% of every wage earner up to $100,000 or so. that will have a big economic impact. you are approaching the debt ceiling cliff which will be another standoff. i assume that is where we will get into the discussion of spending cuts that seems to be absent from whatever deal they are talking about. guest: if there is no deal, the full tax cuts go away. the tax increases and spending cuts will go into effect. about iran fiscal policy given the time. but something in between. maybe the minimum of $200 billion and the maximum of $600 billion. host: some statistics with several charts on how it affects you in your income bracket. the richest 20% with scene increase of about $20,000 increase in taxes owed. for those making $60,000 and above, it would be around $1,100. those making up to $40,000, it would be about $364. for the poorest 20%, those making up to $20,000,
CSPAN
Dec 31, 2012 2:00am EST
to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in orderings something along the lines of the simpson-bowles. we don't have that luxury right now. but perhaps it will only soften the blow of the fiscal cliff but also give us a sense of urgency about a grand bargain to repair our financial house. i am not so naive aso believe everybody is going to check their politics at the door, even at this late hour, but this is not a time for politicking, bicking or partisan games. to allow the country to plunge over the fiscal cliff without any alternative plans to soften the landings completely unacceptable. i can't think of anything more irresponsible than to let this great country go over the fiscal cliff, to play games with the lives of americans in such a callous way, to jeopardize the financial standing of our country and to alarm our financial narcotics ways that could trigger another recession. something has gone terribly wrong when the biggest threat to the american economy is the america
CSPAN
Dec 30, 2012 6:30pm EST
we are able to resolve this and get it done without taking this nation over the fiscal cliff. minimally, our caucus is unanimous in our support and responsibility to take a vote in the house of representatives. with that, i turn it to our vice chair. >> we do have votes -- i'll be brief. i will simply state that the house majority called us back for votes. today believe voting -- votes are beginning as we speak. our understanding is that none of the votes we will be casting today have anything to do with the deadlines that we face in slightly more than 24 hours. we are here, we are ready, we believe there is a bill that would help address some of these deadlines that we face and the fiscal consequences of not ask -- acting on these deadlines before us. that is the bipartisan-passed bill that would protect middle- class families, many tax increases. one way or another we should get something done. the american people have asked us to do that. i know my colleagues have heard what i heard. i've heard from friends and family, from constituents back home. just get it done. we have
Search Results 0 to 3 of about 4